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Ripple CTO Lost Thousands of Dollar Over Altcoins

  • Ripple CTO David Schwartz lost $300,000 over altcoins.
  • Schwartz sold 40,000 ETH at $1 price.
  • Moreover, he de-risked and sold Bitcoin at $750 and Ripple at $.10 per crypto.

Ripple chief technology officer (CTO) David Schwartz lost $300,000 over altcoins. Known as one of the earliest crypto investors, Schwartz previously owned tokens such as TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS, and NRN.

Unsurprisingly, the tokens faced market volatility, which made their prices plummet. These things are not new in the crypto market, and most crypto investors knew it. Schwartz explains further that,

I’ve bought quite a few cryptocurrencies that turned out to be disasters… My total losses, just on tokens that become completely worthless, is just over $300,000.

On the other hand, to avoid further risk, Schwartz reveals that he sold 40,000 Ethereum at $1 per token, Bitcoin at $750, and Ripple at $0.10. Consequently, Schwartz’s decision hurt him with the crypto price market standing today. Currently, Schwartz still owns small amounts of BTC, XRP, and ETH.

The cryptocurrency market is full of various cryptocurrencies that have great potential. As a result, the mass adoption of cryptocurrencies continues to increase. However, cryptocurrency is prawn to volatility, and it can rocket high and drop its price anytime.

Despite that, Bitcoin, Ripple, and Ethereum remain to be on top. Various Coin Quora price predictions explain that these cryptos will be profitable in the years to come. The achievements of BTC, ETH, and XRP in the crypto industry reflect the industry’s stability and profitability.

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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